OCC Reviews Initiatives to Support Small Business Lending

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published a Community Development Investments electronic newsletter that provides a guide for national banks seeking to expand their small business lending. The newsletter describes a range of new federal initiatives created by the Small Business Jobs Act as well as additional enhancements to existing credit support programs of the Small Business Administration, all designed to provide new sources of capital to help banks provide financing to small businesses.

“The Small Business Jobs Act created a variety of ways for banks to increase their small business lending using federally supported programs,” said Acting Comptroller of the Currency John Walsh. “This new publication provides bankers with an overview of new and expanded small business lending programs being offered through the Small Business Administration, Community Development Financial Institutions, and state economic development agencies.”

The online newsletter describes the Small Business Jobs Act’s flagship programs, the Small Business Lending Fund and the State Small Business Credit Initiative. It also highlights innovative federal programs designed to promote mission-focused and entrepreneurial small businesses as well as small business exports.